Black Market Dollar to Naira Exchange Rate for Today, Monday, August 31, 2026

The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained stable on Monday, August 31, 2026, as the United States dollar traded at N1,400 on the buying side and N1,410 on the selling side across major Bureau De Change (BDC) markets.

According to information obtained from Bureau De Change (BDC) operators, dealers are buying one US dollar from Nigerians at approximately N1,400, while Nigerians seeking to purchase dollars are paying about N1,410 per dollar.

The latest exchange rate indicates that the naira continued to trade within a relatively narrow range despite sustained demand for foreign currency from importers, manufacturers, international travelers, students paying tuition abroad and businesses settling overseas obligations. Improved foreign exchange liquidity and stronger external reserves have helped moderate volatility in the parallel market in recent weeks.

Black market exchange rates are determined by prevailing demand and supply conditions and may vary slightly depending on location, transaction size and individual Bureau De Change operators.

How Much Is Dollar to Naira Today in Black Market?

For those asking, “How much is Dollar to Naira today in black market?”, below is the prevailing exchange rate as of Monday, August 31, 2026:

The N1,400 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the N1,410 selling rate represents the amount customers pay to purchase one US dollar from the parallel market.

At the prevailing rates:

• Selling $100 would fetch approximately N140,000.
• Buying $100 would cost approximately N141,000.
• Selling $1,000 would yield about N1.40 million.
• Purchasing $1,000 would cost approximately N1.41 million.

Naira Remains Stable in the Parallel Market

The latest Dollar to Naira exchange rate suggests the naira maintained a stable performance at the close of August despite persistent demand for the US dollar.

Currency traders said demand remained supported by importers, manufacturers, businesses making international payments and Nigerians travelling or studying abroad. However, improved dollar liquidity in the official market has helped reduce pressure on the parallel market and contributed to exchange rate stability.

Factors Influencing the Dollar to Naira Exchange Rate

Several factors continue to influence the movement of the Dollar to Naira exchange rate, including:

• Demand for foreign exchange from importers, manufacturers and travelers.
• Availability of US dollars through official foreign exchange channels.
• Nigeria’s crude oil export earnings and external reserve position.
• Diaspora remittances and foreign investment inflows.
• Monetary policy decisions and foreign exchange reforms.
• Inflation expectations and broader macroeconomic conditions.

These factors continue to determine the value of the naira in both the official and parallel foreign exchange markets.

Official Dollar to Naira Exchange Rate

Nigeria’s official foreign exchange market operates under the supervision of the Central Bank of Nigeria (CBN). The latest Nigerian Foreign Exchange Market (NFEM) rate stood at approximately N1,337.29 per US dollar, remaining below the parallel market rate because the two markets operate under different pricing mechanisms, liquidity conditions and regulatory frameworks.

Dollar to Naira Outlook

Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, crude oil export earnings, investor confidence, external reserves, diaspora remittances and monetary policy developments. Continued improvements in official dollar supply could provide further support for the naira, while sustained demand in the parallel market is expected to keep exchange rates around current levels.

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